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State Abbreviation: NJ
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If you've been following the MBS Commentary, you know what a big deal this afternoon could be. Markets have been preparing for it for weeks and MBS Live members have been on top of those movements every step of the way.

This afternoon, when markets are convulsing mere milliseconds after the Fed Announcement, MBS Live members will know what's going on before anyone else. The accuracy and speed of our real-time price stream and alerts is unmatched.

The minutes from the most recent Fed meeting are out and though no measurable response is present in MBS, at the very least, it can be said that the previous momentum of the rally is remaining unchallenged. Chalk this up to the following positives from...

Low volume... Low volatility... Low expectations... Low pulse... Seems like some the "mood" that could be inferred from the lead-in wouldn't be indicating MBS prices' flirtation with 3 month highs... But alas, the charts at least, are...

If stocks go higher...expect too see profit taking in the rates market. If stocks keep bouncing around flat for the day, we still might see profit taking....but stability should return as "buying on dips" occurs. In regards to MBS specific weaknesses...

So far this AM * ADP employment down 298k, more than expected * Still, we're shocked ADP is even line 1 news * Mortgage Banker's Association on government's future role in secondary mortgage market: "The centerpiece of federal support...

We're finally getting enough confirmation to begin to question the summertime range. How appropriate that the successful retest of recent highs comes on the first day September... If you've been here for one of the frequent discussions on technical...

At 1:23 PM we hit highs of the day at 100-26. Since then we're back down in a range that defines the lows of the afternoon which also coincide with the highs from yesterday. Overall, this is an 8 tick loss from the highest highs. That's the kind...

After the initial knee jerk reaction to better than expected economic data, stocks rallied and the rates market sold off. However, shortly after market's absorbed the data, the tide turned and stocks reversed course which allowed the rates market...

MBS has one supportive event behind (month end index extension) and three more ahead. BEWARE: Rate sheet influential will sell off fast if benchmark yields rise....although there is potential for further rates rallying, if econ data is better than expected...

With prices hovering nearly a half point over par in 4.5's, these are the best levels since 7/31/09 which closed a scant 5 ticks higher at 100-20. Before then, you'd have to go all the way back to July 10th to see higher prices. But what's...

Any time charts start to take shapes similar to those seen above, reprices for the better are usually not far behind. One thing we continually mention is the necessity of a stock market correction in order to validate any meaningful gains in the bond...

Annnnnnd we're back to the highs of the day. The FN 4.5 is currently +0-07 at 100-13. From the 20 some odd mainstream rate sheets we've seen...mortgage rates are sliiightly lower today (rebates a little more robust). Just an FYI...we really hate...

The FN 4.5 has fallen 6 ticks from a bid of 100-13 to 100-07. Currently the rate sheet influential FN 4.5 is +0-01 on the day after being as high as +0-07 (7 ticks or 7/32nds). As many lenders are currently publishing rate sheets...this is bad timing...

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